Multi-million pound sale of sports nutrition firm Grenade

26-Feb-2014 - Last updated on 26-Feb-2014 at 11:30 GMT

Grenade founders Alan and Juliet Barratt

Related tags Sports nutrition Nutrition Wal-mart

UK-based sports nutrition firm Grenade, which sells products through Tesco, is primed for explosive growth following Grovepoint Capital’s multi-million pound acquisition of the business.

Coventry-based Grenadewas founded in 2009 and develops and markets a range of high quality, own-label sports nutrition products to customers both in the UK and internationally.

FoodManufacture.co.uk understands the deal values the business at £35M and brings cash investment that would help boost jobs and international sales.

The firm, which has manufacturing bases in the UK and internationally, said it would continue to develop its product range worldwide. It expected overseas order volumes to soar in the run up to the World Cup and 2016 Olympics.

International sales now account for more than a third (39.6%) of total revenue and the company recently agreed a contract with 320 Walmart stores in Canada. Other stockists include Tesco, Amazon.co.uk and BodyBuilding.com.

Products include Grenade Thermo Detonator, which helps consumers burn fat faster while exercising.

Grow market share

Grenade’s founders, Alan and Juliet Barratt, said they would maintain a role in the company after the transaction and work with Grovepoint to help grow market share.

Kevin Peters, who has previously worked with sports nutrition brand Maximuscle, would join the board of Grenade in the wake of the deal, it said.

“Since 2009, we have established a tight, focused range of products that can service the needs of a range of consumers in the sports nutrition market,” said Grenade co-founder Alan Barratt.

‘Expand business globally’

“We have also developed excellent relationships with our distributors and suppliers and we are looking forward to working with Grovepoint to expand the business globally.”

International investment bank Altium was the main adviser on the deal, which represents its latest involvement in the sports nutrition market.

It advised on the sale of sports supplements business CNP Professional to First Milk in 2012 and helped broker the sale of online retailer Myprotein.com to The Hut Group in 2011.

Altium md Simon Lord, who led the advisory team at Altium with support from assistant director, Dominic Orsini, said: “Grenade has had huge success developing its position as a leader in the pre-workout and weight-loss segments of the sports nutrition market.

“The investment from Grovepoint will allow the business to further develop its product range and capitalise on the brand’s global growth.”